Asian shares decline while markets watch AI and oil

Asian shares are trading mostly lower after artificial-intelligence stocks slid overnight. Benchmarks rose Tuesday in Tokyo but fell in Sydney, Seoul, Hong Kong and Shanghai. The markets are closely watching AI stocks after leaders of the industry warned a slowdown is needed for the safety of humanity, including Anthropic CEO Dario Amodei. Gains for many stocks outside AI helped limit Wall Street’s losses. The S&P 500 fell 0.5%.

The Dow Jones Industrial Average dipped 0.3% and the Nasdaq composite lost 0.6%. Oil prices have continued to climb as fighting in the Middle East keeps squeezing the global flow of crude.

Read the original report at Apnews.